The American Dream of homeownership is alive and well. The personal reasons to own a home differ for each buyer, but there are many basic similarities. Eric Belsky is the Managing Director of the Joint Center of Housing Studies (JCHS) at Harvard University. He authored a paper on homeownership titled - The Dream Lives On: The Future of Homeownership in America. In his paper, Belsky reveals five financial reasons why people should consider buying a home. Here are the five reasons:
Housing is typically the one leveraged investment available.
You're paying for housing whether you own or rent.
Owning is usually a form of “forced savings.”
There are substantial tax benefits to owning.
Owning is a hedge against inflation.
It is evident that homeownership makes sense for many Americans for an assortment of social and family reasons. It also makes sense financially. If you are considering a purchase this year, please contact Andreas Holder for a free consultation how homeownership can benefit you.
Are you thinking about buying a home this year in Chicago? Andreas Holder can help! Let him be your guide to the downtown Chicago real estate market and help you find a home that not only matches your needs, but your lifestyle too. 